Malaysia Morning News For January 25

Inflation up 3.5% on higher fuel costs
Malaysia’s inflation rate rose 3.5% in December 2017 in line with expectations, as transport costs climbed on higher fuel prices but for 2018, analysts are expecting the impact to taper off and the inflation rate to decline.— The Star Online

Malaysian ports left out as container shipping lines consolidate
The recent round of container shipping line consolidation and alliance reshuffling leaves Malaysian ports out of the race for transhipment volumes, as bigger groups opt to maintain or move their services to Singapore rather than to Port Klang or Port of Tanjung Pelepas (PTP).— Hellenic Shipping News

MBSB gets shareholders’ nod for RM644.95m AFB acquisition
Malaysian Building Society Bhd (MBSB) has received shareholders’ approval for the RM644.95 million acquisition of Asian Finance Bank Bhd (AFB) to pave the way for the financial institution to become a full-fledged Islamic bank.— Daily Express

CPI is higher on transport, food and beverages
Malaysia’s Consumer Price Index (CPI), which measures headline inflation, rose by 3.5 per cent to 120.9 in December 2017 from 116.8 in the corresponding month of the preceding year, mainly due to transport, food and beverages.— New Straits Times

TH Heavy to receive RM374m from FPSO novation agreement with Yinson
TH Heavy Engineering Bhd (THHE) today said it will receive RM374 million cash as proceeds of its novation agreement with Yinson Holdings Bhd for the floating, production, storage, offloading facility for the Layang Development awarded by JX Nippon Oil & Gas Exploration (Malaysia) Limited.— The Sun Daily

PA Resources wins RM600m contract
P.A. Resources Bhd has bagged a RM600 million contract to supply materials to Nasdaq-listed First Solar Inc, First Solar Vietnam Mfg Co Ltd and First Solar Malaysia Sdn Bhd for the latter’s use in the production of solar photovoltaic modules.— New Straits Times

EPF to invest more in US
The Employees Provident Fund (EPF) has applied for sovereign status in the United States to gain easier access to investment opportunities in the world’s largest economy.— The Star Online

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Malaysia morning news by AEC News Today is your one stop source for Malaysia news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.